6.8 Midday Market Outlook

The market surged sharply this morning, jumping from a low of 61,150 to a high of 64,241. It has now pulled back slightly, digesting the gains after a big rally. Resistance above is very strong, and there is currently upward momentum.

It is now in a phase of rallying to a high, then pulling back and weakening in a volatile manner, with support levels being tested back and forth. Short-term rebounds are difficult to sustain; if it cannot hold steady above the 63,500-64,000 range, it will likely continue to fluctuate downward, so avoid chasing highs and buying more.

Trading strategy:

Rebound to the 63,200-63,700 range, look for a move toward 62,000-62,500; if broken, then watch for 61,000-61,500.
If it retests 60,500-61,200 and stabilizes, consider small positions for short-term gains, and exit when reaching 63,000 to 63,600. Unless it breaks the 64,241 high again today, the overall outlook remains bullish. $BTC $ETH